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The main reason why you would create a feasibility study document is to check whether or not you should commit your time and resources towards a project. A feasibility study may reveal new challenges or concepts which may completely change the scope of a project.How important is a feasibility study?
Feasibility studies are important to business development. They can allow a business to address where and how it will operate. They can also identify potential obstacles that may impede its operations and recognize the amount of funding it will need to get the business up and running.Why is it important to assess project feasibility?
It is important to assess project feasibility because the feasibility analysis takes many factors into account, including the availability of resources, legal issues, regulations that must be adhered to depending on the project itself, financing, and any other relevant factors.